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Account Switching Information

Switch to Silicon Valley Bank

At Silicon Valley Bank, we do everything within our power to make switching accounts as hassle free and efficient as possible and aim to have your account fully transferred within one calendar month*

* Silicon Valley Bank is not a participant of the full Current Account Switch Service due to the commercial nature of our banking activities. Nonetheless, we are still committed to moving all of your direct debits and standing orders efficiently (subject to cooperation from your existing bank), keeping you updated every step of the way.

We make any amendments to your list and set up your Direct Debits and Standing Orders to take effect on a date specified by you. We will advise the Direct Debit companies of your new account details and ask them to change their records.

Frequently Asked Questions

Silicon Valley Bank specialise in banking businesses from the technology, life science, cleantech, private equity and venture capital industries. Our niche sector focus has enabled us to offer our clients expertise, guidance and the kind of networking connections that only a bank with our true industry knowledge can deliver. If you switch to us, you will be welcomed into a banking community that truly understands your industry dynamics, knows how to manage risk and has the experience to help you to get to the next stage.

We will set up your new account quickly and transfer your current Direct Debits and standing orders within one calendar month of when your switching request is received. We promise to keep you regularly informed throughout the entire transfer process.

Review the list of your current automated payments that we obtain from your old bank, and inform us of any amendments.

You will need to make separate arrangements with us for any irregular payments or salaries, i.e. bill payments that you currently pay through your account. Our advisors will be able to assist you with this, see below for contact details.

We recommend that you review your account for the first month to ensure all payments go out as usual. This will make sure that all the organisations we have contacted have responded to our requests in a timely manner.

Once the process is complete, if there are any Direct Debits not appearing on your new account, you will be required to contact the companies directly, as they may not have changed their records following our request.

Policy

About Us

Silicon Valley Bank is registered in England and Wales at 41 Lothbury, London EC2R 7HF, UK under No. FC029579. Silicon Valley Bank is authorised and regulated by the California Department of Business Oversight and the United States Federal Reserve Bank; authorised by the Prudential Regulation Authority with number 577295; and subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request. Silicon Valley Bank is a subsidiary of SVB Financial Group, a Delaware corporation and is an affiliate of SVB Financial Group UK Limited. SVB Financial Group UK Ltd is registered in England and Wales at 41 Lothbury, London EC2R 7HF, UK under No. 5572575 and is authorised and regulated by the Financial Conduct Authority, with reference number 446159. SVB Financial Group and its subsidiary Silicon Valley Bank are members of the Federal Reserve System and Silicon Valley Bank is a member of the FDIC.